mike os
just a little insane.....
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- 9,809
- Location
- North Wales
vat is threshold based irregardless of trading status,....
corporation tax is on all end of year profit, no allowance like there was a few years back...
only reason to go ltd imo is if you are in partnership or you work in a high risk sector for potentially iffy clients, in reality all it protects you from is personal loss in the event things go wrong, but only if you have not acted outside the rules. neglegence, fraud, etc you retain personal liablility for as a director and banks will still want a personal surity for any finances. You also remain liable for any tax liabilities even if you go bankrupt.
corporation tax is on all end of year profit, no allowance like there was a few years back...
only reason to go ltd imo is if you are in partnership or you work in a high risk sector for potentially iffy clients, in reality all it protects you from is personal loss in the event things go wrong, but only if you have not acted outside the rules. neglegence, fraud, etc you retain personal liablility for as a director and banks will still want a personal surity for any finances. You also remain liable for any tax liabilities even if you go bankrupt.